Essential is developing a new blockchain architecture that replaces traditional transaction-based interactions with an “intent-centric” model, allowing users to specify desired outcomes rather than granular instructions. These user intents are processed off-chain by a distributed network of solvers, which reduces on-chain computation and aims to improve scalability. The company argues that shifting from an imperative to a declarative paradigm significantly enhances both user and developer experience by abstracting away complex transaction steps. As part of its roadmap, Essential is introducing “Pint,” a dedicated language for programmable intents that will let developers build applications atop its network. The project positions this approach as a solution to many UX issues inherent in current blockchain systems. Essential recently secured $11 million in Series A funding to accelerate product development and ecosystem growth. No operating metrics such as revenue or user counts were disclosed in the articles.

Total raised

$11M

Funding rounds

1

Latest round

Series A

Latest activity

Aug 2024